Deadlines for Priority in Awarding Funds
First-time Freshmen: March 15
Returning and Transfer Students: April 15
Applications received after these dates will be processed based on availability of funds.

You can go to http://www.finaid.ucsb.edu/fafsasimplification/ for a FAFSA Tutorial.

AMC’s financial aid offers are based on demonstrated need, which is calculated as
Cost of Attendance (COA) - (minus) Expected Family Contribution (EFC)

Whether or not you qualify for need-based financial aid as a freshman or transfer student, you may be eligible for AMC’s many merit and need-based scholarships and grants, awarded by our Office of Admission. To be considered, submit your application for admission and all supporting materials by April 15.

AMC also has your long-term interests in mind and may award scholarships to returning students.

Loans

Loans to support your education are credited to your balance at Albertus Magnus College when we receive the funds from the lender.

Federal Perkins Loan
When you demonstrate high financial need, this program provides a nine-month grace period after graduation before repayment must begin. Interest is fixed at 5 percent. A Master Promissory Note must be completed when you start school.

Federal Direct Subsidized Stafford Loan
With demonstrated need, you may apply for this federal loan and borrow up to $3,500 as a freshman, $4,500 as a sophomore and $5,500 as a junior or senior. A six-month grace period is provided after graduation or if you fall below half-time enrollment before repayment must begin. Interest is currently fixed at 6 percent but may be subject to change. While you remain in school, the government pays interest on all subsidized loans.

Federal Direct Unsubsidized Stafford Loan
You may qualify for this non-need-based federal loan. Interest is currently fixed at 6.8 percent but may be subject to change. While in school and in any deferment periods, you are responsible for paying the interest. Dependent students may be eligible for additional unsubsidized funds with a Direct PLUS Loan denial.

You may combine subsidized and unsubsidized Stafford loans to help meet your needs. Freshmen students may qualify for $3,500 subsidized and an additional $2,000 in unsubsidized Stafford loans, while sophomores may qualify for $4,500 subsidized and an additional $2,000 unsubsidized. Juniors and seniors may qualify for $5,500 in subsidized Stafford loans and an additional $2,000 unsubsidized. Interest rates typically reset in July.

Grants

Your demonstrated need may make you eligible to receive grant funds that do not require repayment.

Federal Pell Grant
Need-based award offered to students with very low Estimated Family Contribution (EFC). Each year, the federal government determines award levels, including the maximum and minimum amounts.

Federal Supplemental Education Opportunity Grant (SEOG)
Funded by the federal government and offered to students with the highest need, typically Pell Grant recipients.

Albertus Magnus College Grant
Awarded by AMC’s Financial Aid Office based on need.

Connecticut Independent College Grants (CICS)
Need-based award for Connecticut residents attending private institutions within the state.

Connecticut Independent College Minority Grant (CICM)
For minority Connecticut residents, as defined by the Connecticut Independent College Grant program, this need-based award supports your attendance at private institutions within the state.

AMC Multiple Family Discount
AMC offers a ten percent discount on tuition for a second family member when two or more siblings attend simultaneously as full-time day students. Discount remains effective while both students maintain full-time day status.

Work-Study

You may also qualify to participate in the Federal Work-Study Program, which employs students on the AMC campus. Each week, you may work an average of 8 hours but no more than 20 hours each week during the academic year, or 35 hours a week during periods of non-enrollment, such as vacation breaks. Wages meet federal minimum-wage standards. You are paid semi-monthly by a check you can pick up in the AMC Business Office.

Federal Community Service Work-Study Program
You may earn funds working off-campus at non-profit organizations that benefit the community by meeting the human, educational, environmental and public safety needs of low-income individuals.

Hours
8:30am – 6:30pm Tuesday and Wednesday
8:30am – 4:30pm Monday, Thursday, and Friday